Does Reserve Bank accept old Australian banknotes?

1 ANSWERS

1. Banking Expert
   

   All previous issues of Australian banknotes retain their legal tender status. However, it is a long time since these banknotes actively circulated in Australia and many retailers and members of the public may be reluctant to accept them if they are not familiar with the designs and may suspect them to be counterfeit. The RBA, and most commercial banks, will redeem old Australian banknotes at face value. If you take your old banknotes to a commercial bank they may exchange them for current banknotes. Please bear in mind that a commercial bank may require time to confirm that a banknote from a previous banknote series is genuine or may need to send such banknotes to the RBA for confirmation.

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